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EDUCATION 1ST CREDIT UNION

Mar, 31, 2022 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 1 branch location and about $43.72 million in total assets. Opened 90 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,624 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:EDUCATION 1ST CREDIT UNION
Address:
(Main Office)
1250 Country Hills Dr
OGDEN, UT 84403-2560
Phone:(801) 392-4877
Fax:(801) 392-4879
Website:http://e1cu.org
Branches:1 branch locations
Members:2,624
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67127
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1932
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$43,716,176
CEO/Manager:Kent M Greenfield
Chairperson:Bruce Christensen

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,714,651
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 16,894,826
 Unsecured Loans 1,762,923
 Other Loans 11,435,572
 TOTAL LOANS 30,093,321
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -215,070
 Land And Building 235,747
 Other Fixed Assets 179,647
 NCUSIF Deposit 337,118
 All Other Assets 0
  TOTAL ASSETS 43,716,176
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 99,345
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,105,433
 Regular shares 19,093,416
 All Other Shares & Deposits 10,095,420
  TOTAL SHARES & DEPOSITS 39,294,269
  TOTAL LIABILITIES 39,393,614
 Regular Reserve 0
 Other Reserves 1,795,906
 Undivided Earnings 2,526,656
  TOTAL EQUITY 4,322,562
  TOTAL LIABILITIES, SHARES, & EQUITY 43,716,176
INCOME & EXPENSE  
 Loan Income 309,087
 Investment Income 8,294
 Other Income 62,000
 Total Employee Compensation & Benefits 194,605
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 140,743
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,000
 Cost of Funds 37,228
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 70,283
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